The ending inventory of work in process is: a. $219,250 b. $73,250 $65.000

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter8: Cost Analysis
Section: Chapter Questions
Problem 9E
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3

Harrison Ford Company uses a job-order cost
system and had the following data available f
1998.
Direct materials purchased on account
Direct materials requisitioned
Direct labor cost incurred
Factory overhead incurred
Cost of goods completed
Cost of goods sold
Beginning direct materials inventory
Beginning work in process inventory
Beginning finished goods inventory
Overhead application rate (as a percent of
direct labor cost)
The ending inventory of work in process is:
a. $219,250
b. $73,250
c. $65,000
d. $211,000
$74,000
$41,000
$65,000
$73,000
$146,000
$128,000
$13,000
$32,000
$29,000
125%
Transcribed Image Text:Harrison Ford Company uses a job-order cost system and had the following data available f 1998. Direct materials purchased on account Direct materials requisitioned Direct labor cost incurred Factory overhead incurred Cost of goods completed Cost of goods sold Beginning direct materials inventory Beginning work in process inventory Beginning finished goods inventory Overhead application rate (as a percent of direct labor cost) The ending inventory of work in process is: a. $219,250 b. $73,250 c. $65,000 d. $211,000 $74,000 $41,000 $65,000 $73,000 $146,000 $128,000 $13,000 $32,000 $29,000 125%
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